Tailorsi, Samsung's US Foundry Plant Investment Incentive Approved

Tax Benefits Worth 300 Billion Won
Boosting Possibility of Site Selection

The Samsung flag in front of Samsung Electronics Seocho Building is fluttering in the wind.
[Image source=Yonhap News]

[Asia Economy Reporter Kim Heung-soon] It has been confirmed that the Taylor Independent School District (ISD) in Texas, considered a candidate site for Samsung Electronics' new foundry (semiconductor contract manufacturing) plant in the United States, recently approved tax reduction benefits to attract the Samsung factory.

According to the local media 'Austin Business Journal' on the 18th, the Taylor ISD held a meeting on the 15th and decided to provide tax reduction incentives totaling $292 million (approximately 344.2 billion KRW) if Samsung Electronics decides to invest in Taylor. The Taylor ISD plans to provide these incentives by reducing property taxes on the Samsung foundry plant.

Regarding Samsung Electronics' investment in the Taylor area, negotiations for incentives have been held separately with three entities: Taylor ISD, the city of Taylor, and Williamson County. Earlier, Williamson County and the city of Taylor held a public hearing in September and unanimously approved tax benefits for Samsung Electronics. With the recent approval by the Taylor ISD, all negotiating parties in Taylor have now approved incentive measures.

Another candidate site mentioned is the city of Austin in the same state, where negotiations seem to be stalling. Samsung Electronics had applied for tax benefits from Austin earlier in January this year, before Taylor. The negotiating parties in these areas include the city of Austin, Travis County, and Manor Independent School District, but none have yet approved incentives. Recently, it was confirmed that Samsung Electronics withdrew its incentive application submitted to Manor ISD from the Texas state government website.

Accordingly, there is growing momentum for Taylor to become the final candidate. Regarding this, Samsung Electronics stated again, "We are still reviewing multiple investment locations, and the final investment site has not yet been decided."

This content was produced with the assistance of AI translation services.